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Relaxations Provided On Compliances To Be Met By Units, Developers, Co-Developers Of SEZs

"Ad-hoc interim extension and deferment of the expiry date may be granted without prejudice till June-end," said the statement.

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The government on Monday decided to provide suitable relaxations on compliances to be met by units, developers and co-developers of special economic zones (SEZs) due to the countrywide lockdown amid rising cases of coronavirus (COVID-19) epidemic.

Such compliances to which the relaxations will apply include requirement to file quarterly progress report attested by independent chartered engineers by developers and co-developers, SOFTEX form to be filed by IT/ITES units, filing of annual performance reports by SEZ units and extension of letters of approval (LoAs) which may expire. "Development commissioners of SEZs have been directed to ensure that no hardship is caused to developers, co-developer and units, and no punitive action is taken in cases where any compliance is not met during this period impacted by the above disruption," according to an official statement.

All extensions of LoAs and other compliances may be facilitated through electronic mode in a time-bound manner.

In the cases where it is not possible to grant extension through electronic mode or in cases where a physical meeting is required, development commissioners have been asked to ensure that no one faces any hardship due to such expiry of validity during this period of disruption.

"Ad-hoc interim extension and deferment of the expiry date may be granted without prejudice till June-end," said the statement.

(ANI)


Tags assigned to this article:
special economic zone lockdown Covid 19